Connect with us

Precious Metals

Bonds, Bitcoin, & Big-Tech Puke On Powell Pick; Banks Bid On Brainard Diss

Bonds, Bitcoin, & Big-Tech Puke On Powell Pick; Banks Bid On Brainard Diss

The decision not to appoint progressive-fave Lael Brainard…

Published

on

This article was originally published by Zero Hedge

Bonds, Bitcoin, & Big-Tech Puke On Powell Pick; Banks Bid On Brainard Diss

The decision not to appoint progressive-fave Lael Brainard to Fed Chair (and more notably not to pick her fore vice-chair of supervision) triggered selling in STIRs (Powell more hawkish) and buying in bank stocks (no Warren-esque ‘regulator’ running the show).

Dear Lael…

The market is now pricing-in a full rate-hike by June 2022 (that’s before the July end of taper if the current timeline is maintained)…

Source: Bloomberg

…with almost 3 rate-hikes priced in by Dec 2022…

Source: Bloomberg

Bank stocks jumped on the news (best day in 2 months) that Biden has nominated Powell for another term (and not progressive-friendly Brainard who also was not chosen to head up The Fed’s regulatory division)

Source: Bloomberg

And here’s what’s helping drive risk assets elsewhere!!

Source: Bloomberg

After a chaotic open, Biden’s Powell pick sparked a relief rally in stocks initially but as rates shifted hawkishly, big-tech tumbled (as did the broad market). Once Europe closed, everything went bid as yields soared (and Nasdaq managed to get back to green). But the last 20 minutes of the day saw more violent selling hit the markets again with a big MOC Sell order. Only The Dow managed to cling to some gains (up just 20 points)…

S&P 500 has made 66 new all-time highs this year or 1 new ATH for every 3.37 trading days. This is on pace for the second best year on record, only after 77 ATH in 1995.

As a reminder, $2.4 trillion in gamma rolled off on Friday, so some chaos was to be expected today as gamma unclenched. Today saw three big sell programs with TICK below -1000…

Source: Bloomberg

Did the recent run in Nasdaq (relative to Small Caps) hit a limit?

As soon as Europe closed, the short-squeeze began…

Source: Bloomberg

The surge in rates sparked a bid in Value stocks as Growth was dumped (before it limped back into the green)…

Source: Bloomberg

Mega-Cap tech was chaos today, gapping open above last week’s highs, puking back below last week’s lows, then ramping back to unch…

Source: Bloomberg

High yield bond prices broke down below the October lows today…

Source: Bloomberg

Treasuries tumbled today with the belly underperforming as two really ugly auctions drove yields higher. The 7Y yield rose over 10bps…

Source: Bloomberg

The long-end of the curve refuses to buy into The Fed’s policy plan and is making lower highs (in yield) as the short-end hawkishly rises. 5Y is up 18bps from Friday’s lows, 30Y up just 8bps…

Source: Bloomberg

The yield curve continued to flatten, now at its lowest since March 2020…

Source: Bloomberg

Breakevens tumbled today, sending real yields spiking higher…

Source: Bloomberg

Which – if one looks at the correlations – is why gold, crypto, tech stocks, and pretty much everything else tumbled today…

Source: Bloomberg

The dollar extended its November gains (now up over 2% this month) spiking to its highest since September 2020…

Source: Bloomberg

Crypto was a roller-coaster today ended ugly as Bitcoin tagged $60k yesterday, dumped overnight, ripped on the Powell headlines, then tumbled back to last week’s lows around $56,000…

Source: Bloomberg

Gold was clubbed like a baby seal today, plunging back towards $1800…

Oil prices chopped around today as fears over demand (from COVID lockdowns escalating) to supply dynamics (SPR releases vs OPEC+ retaliation), but in the end WTI was higher…

Finally, market breadth stinks….

Source: Bloomberg

And elsewhere, there’s been a bloodbath

As ‘Bubble’ markets burst as the taper begins…

Source: Bloomberg

Get back to work Mr.Powell!

Tyler Durden
Mon, 11/22/2021 – 16:00






Author: Tyler Durden

Economics

How Silver Can Conquer $50+ in 2022

Two realistic price movement scenarios can see silver finally ascend through the magnetic $50 level in 2022. A case can be made that either – or perhaps…

Two realistic price movement scenarios can see silver finally ascend through the magnetic $50 level in 2022. A case can be made that either – or perhaps both – have a strong likelihood of taking place.

First Scenario:

In December, silver moves up from a strong multiple-year base, with an impulse leg-driven First Quarter, punching through strong resistance and spiking into the low ‘$40’s before retreating to its breakout just above $30.

It builds a broad $15 sideways HSR (horizontal support-resistance) price box between $43 and $28.

Volume strengthens on up days, and lessens on down days, creating a descending technical triangle.

In April, silver breaks out of its four-month coil and drives into new multiple year highs between $44 and $55 per ounce, creating spikes above $50, but without managing three closes (above a given price, in this case the historic $50) David Morgan looks for to validate a bullish (or bearish) impulse leg breakout.

In mid-June, physical silver gives up the ghost and retreats into a seasonal July-August double bottom.

Many long-term silver bulls lose hope as the “triple top” (1980, 2011, and 2022) they see causes them to conclude that silver prices will “never” rise and stay above $50 during their lifetimes.

Metals and miners wash out into the fall of 2022, as the last weak hands are “worn out or scared out,” even as silver consolidates for a fourth – and this time successful assault on $50.

Second Scenario:

In the second scenario, silver, having retreated toward its $30 breakout early in the year, yet unable to leave $50 behind, churns in a frustrating triangular fashion.

Meanwhile, new, subtle, but sustained physical buying comes in late in a session on any breakdown in price.

Large money siphons off increasingly scarce physical inventory like what happened in late October 2021, when a metals’ dealer colleague shared with me that he had just taken “a test order” from a new customer… for five million dollars!

The silver price is coiling; the spring is tightening… Those who read this column have heard the litany of supportive factors, but there are two more that may slip beneath people’s radar.

A Technical Indictor:

In several decades of following “the restless metal”, one powerful “technical tell” – what I call “the fourth time indicator” – stands out. It’s when a price challenges either upside resistance or downside support for the fourth time.

A classic example of this took place as what would become a 5-year cyclical bear market built out from the 2011 upside failure and touched $26 silver for the fourth time.

I remember getting a pit in my stomach, thinking, “It’s probably gonna’ go through… and keep dropping!” Which is exactly what it did.

A Physical Indicator:

The metals’ dealers I speak with tell me that virtually no significant quantities of gold and silver are coming back into the market.

Additionally, a tell I watch for is the availability – or lack thereof – of fractional ounce gold coins like the Canadian gold Maple (leaf) or the Australian gold Lunar.

Upon inquiring recently about 1/10th oz Canadian Maples, I was told, “Do not expect anything before late January 2022 at the earliest.” (Some American fractionals are available, but internationally less desired by dealers than their more easily resold cousins.

Silver has acted like this before. Jeff Clark’s talk at last fall’s Silver Symposium envisioning how the next silver bull run might unfold, was titled “From Boring to BOOM.”

Clark noted how silver actually declined for two years into 1976, during a time – as now – when inflation and unemployment were high, and there was an ongoing energy crisis. He had a dozen quotes “from the experts” read aloud, several from the venerable New York Times

Said one in the event by a less-than-a prescient observer: “Gold is headed below $100. Who wants to put money in gold and silver now?” Another: “Any argument against putting money into gold goes double for silver. Silver is fools’ gold!”

Clark described the current environment succinctly and eloquently. “We have a falling silver price, surrounded by catalysts.”

You may be a long-suffering holder whose dreams of a metal moon shot have been dashed too many times to count. (And yet silver in 2000 traded for less than $4.00 the ounce; rocketed to near $50 in 2011; and even today with a $3-$5/ounce bullion premium and $9-$12 for the American Silver Eagle versus the traditional $3, you’re still looking at a “30 handle.”)

What do you think will happen when one of those “catalysts” or some other unexpected factor collides with a jaded “nothing’s gonna’ change'” investment cohort, an unsuspecting public, and an asleep at the wheel manufacturing sector?

In conferences and essay columns like this one for Money Metals, I’ve said it before: Everyone knows the price of silver – look it up on an exchange or call your dealer. But No one on the face of the earth has even a rough idea of the value of silver.

My bet says that as we track the metal’s path to $50 in 2022, followed by an epic three-digit stellar shot in 2023-4, we’re all going to find out! If such is the case, which side of this bet will you be on?

The Mt. St. Helens Side-Eruption.

The Mt. St. Helens Side-Eruption.

When Silver makes its move, “the side of the mountain is going to blow out.” In March 1980, Mt. St. Helens in WA State blew its…side. Everyone including the geologist monitoring its activity – and who himself died during the explosion – expected that when and if it did activate, it would follow the classic vertical eruptive form. But no.

The NE side of the volcanic cone disintegrated as a 300-mph hell-fire storm of ash, rock, plant matter (and a bird’s beak I found in a relative’s back yard in Moses Lake 200 miles from the site!) spread out across several states.

This may serve as a fitting analogy for what’s to come when silver explodes, making its exponential, beyond-the-comprehension run, shocking even “the experts.” Should this take place, will you be standing there empty-handed as a spectator, watching? Or holding physical silver, some gold, and perhaps platinum in hand to ensure your other assets?

      




Author: Author

Continue Reading

Articles

Best Mining Stocks To Buy? 3 For Your List

Will you be watching these mining stocks? Many mining stocks reached new…
The post Best Mining Stocks To Buy? 3 For Your List appeared first on Gold…

Will you be watching these mining stocks?

Many mining stocks reached new highs last year as a result of the outbreak. When the economy began to falter, the price of metals and resources rose. This occurred as a result of increased demand and scarcity. This happened to the two most regularly traded mining niches, gold stocks, and silver stocks. In mid-2020, both gold and silver reached all-time highs.

Why has gold remained at this price despite much economic recovery? As you may be aware, gold often performs well when the currency is weak or the economy is weak. Even while the economy is improving, it is primarily occurring in the United States and a few other countries. Even if the world’s shortages and logistics issues were solved tomorrow, a lot of harm has been done that will take time to undo. As a result, gold has stayed bullish.

Sector news, company news, and other information are all vital. We are in the thick of third-quarter results season in November, and many mining stocks will rise and fall. As a result, it will be interesting to see how the market reacts. In 2021, there are a plethora of excellent mining stocks to keep an eye on. Let’s take a look at several to keep an eye on.

Top Mining Stocks To Watch

McEwen Mining Inc. (NYSE: MUX)

McEwen Mining Inc. is a corporation that specializes in mineral resource discovery, development, production, and sales. Silver, gold, and copper are among the metals sought by this company. It holds 100% of the El Gallo project, the Fenix project, the Black Fox mine, and a slew of other projects. It has hotels throughout Mexico, Canada, Argentina, and the United States that it owns and runs.

On November 3rd, McEwen released their third-quarter results for 2021. The company indicated that it is on track to meet its 2021 production goals. The company believes it has made significant progress in terms of operations and finances. As of September 30th, 2021, McEwen has $72.7 million in cash and liquid assets and $45.8 million in working capital.

The company stated, “We continue to execute our turnaround strategy and have made significant progress both from an operational and a financial perspective. We expect this trend to continue with the ongoing production ramp-up from the Froome deposit at the Fox Complex.” Will MUX make your watchlist?

IAMGOLD Corporation (NYSE: IAG)

On November 17th, IAMGOLD Corporation is a penny stock that is up 0.3 percent. This company is involved in the development and operation of gold mining sites in a variety of nations. North America, South America, and West Africa are where it now operates. The Essakane mine, the Rosebel mine, and the Westwood mine are among the mines in which IAMGOLD has an active stake.

On November 3rd, IAMGOLD announced its third-quarter results for 2021. On November 3rd, the company released its third-quarter results for 2021. IAMGOLD’s adjusted EBTIDA was $265.7 million, while its mine-site free cash flow was $121.6 million. IAMGOLD also had a total net loss of $20.1 million, or $0.04 per share, during the same time period.

CEO and President of IAMGOLD, Gordon Stothart said, “The third quarter of 2021 saw improvement in our operating performance supported by the continued strong results at Essakane. Rosebel performed in line with the revised plan. Construction activities at Côté continue to proceed well, reaching 36% project completion at quarter-end.” Now will IAMGOLD be on your mining stock watchlist?

Eldorado Gold Corporation (NYSE: EGO)

Eldorado Gold Corporation is a mineral resource exploration, discovery, acquisition, development, production, and sale firm. Eldorado’s main interests include gold, silver, lead, zinc, and iron ores. Kisladag and Efemcukuru in Turkey, Lamque in Canada, Olympias and Stratoni in Greece are the five mines it currently runs.

Eldorado announced on August 9th the commencement of a $500 million senior notes issue due in 2029. The funds will be utilized to redeem the company’s outstanding $234 million 9.500 percent senior secured second lien notes due June 2024.

The company also announced the sale of its Tocantinzinho Project to G Mining Ventures on August 9th. George Burns, President and CEO of Eldorado said, “This transaction provides Eldorado with immediate value for TZ, while also retaining meaningful exposure to future value creation through our equity stake in GMIN.” Noting this, will EGO be on your list of mining stocks to watch?

Top Mining Stocks To Buy?

It’s difficult to know which gold stocks are the finest to buy. Because the market is so volatile right now, it’s critical to perform a lot of research before investing. Many gold stocks are expected to rise in value in August 2021. So, which gold mining stocks are you going to keep an eye on?

The post Best Mining Stocks To Buy? 3 For Your List appeared first on Gold Stocks to Buy, Picks, News and Information | GoldStocks.com.








eldorado gold corporation


iamgold corporation

Continue Reading

Precious Metals

Spot Pet Insurance Review

Best for Unlimited Benefits Spot is one of our choices for the best pet insurance companies of 2021 because it offers unlimited annual benefits and customizable…

Best for Unlimited Benefits

Spot is one of our choices for the best pet insurance companies of 2021 because it offers unlimited annual benefits and customizable deductibles and reimbursement percentages. Spot also provides coverage for hereditary and congenital conditions, and will even cover chronic conditions.

Unlike most companies, Spot doesn’t have an upper age limit, and there is no lifetime limit on payouts.

Spot Pet Insurance Pros and Cons


Pros

  • Option for unlimited annual benefits
  • No upper age limit
  • Relatively short waiting period for accidents and illnesses
  • 24/7 telehealth helpline

Cons

  • Higher-than-average premiums
  • Bilateral exclusions apply
  • Charges transaction fees for monthly, quarterly or semi-annual payments


Pros Explained

Option for unlimited annual benefits

Pet insurers usually have caps on annual benefit payouts, such as $5,000 per year. Spot offers multiple options ranging from $2,500 to unlimited annual benefits, so you can pick the benefit amount based on your pet’s needs — and what you can afford. (A higher benefit triggers a higher premium, as a rule.)

No upper age limit

With most pet insurance companies, there are restrictions on how old a pet can be to qualify for a policy. Depending on the company, the age limit can be as low as 10 years, so owners of senior pets cannot enroll their animals. With Spot, there is no upper age limit, so you can get full accident and illness coverage for your pet, regardless of its age.

Relatively short waiting period for accidents and illnesses

Spot’s waiting period — the time after enrollment that you can seek care — is just 14 days for all accidents and illnesses. That’s a substantially shorter period than some other companies require; for example, waiting periods can be as long as six months for knee and ligament conditions.

24/7 telehealth helpline

As a Spot customer, you get free 24/7 access to a veterinarian helpline. You can use the helpline to discuss medication side effects, get expert advice about whether emergency treatment is necessary or learn of typical treatments for your pet’s condition.

Cons Explained

Higher-than-average premiums

When we requested quotes for various breeds and ages and compared them to quotes in our past price survey, we found that Spot’s premiums were higher than the industry average.

Bilateral exclusions apply

Not all companies have bilateral exclusion clauses, but Spot does. If your pet has been diagnosed with any knee or ligament condition, any future issues affecting the other limbs will not be covered.

Charges transaction fees for monthly, quarterly or semi-annual payments

If you opt to pay your premiums monthly, quarterly or semi-annually, Spot will charge you a transaction fee. The fee is only waived if you pay annually.

Spot Plans

Spot offers accident and illness plans, accident-only policies and preventative plans for dogs and cats.

Accident and Illness

Spot’s accident and illness plan provides coverage for hospitalizations, surgeries, X-rays and poison control consultation fees. It also reimburses microchip implantation — by a licensed veterinarian — and behavioral therapy.

  • Annual Maximum: $2,500 to unlimited
  • Reimbursement Options: 70%, 80% or 90%
  • Deductibles: $100 to $1,000

Accident-Only

The accident-only plan covers treatments for unexpected injuries, such as toxic ingestion, broken limbs or fractured teeth. Spot’s accident-only plans also pays for microchip implantation, but it does not cover treatments for illnesses, such as cancer or influenza.

  • Annual Maximum: $2,500 to unlimited
  • Reimbursement Options: 70%, 80% or 90%
  • Deductibles: $100 to $1,000

Wellness

Spot has two preventative care plans that can be added to its insurance policies. With either option, you are reimbursed up to a specific amount for preventative tests and treatments, such as wellness exams and vaccines. Note: preventative care plans cannot be purchased separately.

  • Gold: The gold plan provides up to $250 in annual reimbursement. It covers specific amounts for dental cleanings, vaccines and heartworm tests.
  • Platinum: Providing up to $450 in annual reimbursement, the platinum plan covers higher amounts for preventative procedures. It also provides reimbursement for additional expenses like spaying or neutering and bordetella vaccines.

Spot Pricing Tier

Spot was not included in our past price survey, but its premiums tend to be higher than the averages we calculated for other companies. To give you an idea of what premiums to expect when you enroll your pet, we gathered quotes for dogs and cats of different ages and breeds.

Rate quotes are for a pet owner in Orlando, FL, and are based on an accident and illness plan with a $10,000 annual reimbursement limit, a $500 deductible and a 70% reimbursement percentage. When you request quotes for your own pet, you may find that you get different rates since premiums are based on factors like location, your pet’s breed and age.

Sample monthly pricing for dogs

1 year old 5 years old 10 years old 15 years old
Cocker Spaniel $41.88 $50.86 $107.70 $149.59
Labrador Retriever $41.88 $50.86 $107.70 $149.59
Pomeranian $30.13 $36.59 $77.49 $107.62

Sample monthly pricing for cats

1 year old 5 years old 10 years old 15 years old
Domestic Shorthair $16.21 $18.92 $33.78 $60.80
Maine Coon $24.09 $28.11 $50.20 $90.35
Russian Blue $16.21 $18.92 $33.78 $60.80

Discounts

Spot offers a 10% multiple pet discount when you enroll two or more pets, which is a higher discount than many other insurers provide.

New policyholders may also qualify for a $25 Amazon gift card when they enroll their pets. This promotion is not available in all states.

Spot Financial Stability

Having the knowledge that your pet insurance company is financially secure and capable of paying out its future claims can be reassuring. You can find out what industry experts think about companies by looking up the insurer’s Financial Strength Rating from credit rating agencies like AM Best or Demotech.

Spot’s pet insurance plans are underwritten by the United States Fire Insurance Company, a business with an A (Excellent) rating from AM Best.

Spot Accessibility

It’s common for pet insurance companies to provide educational tools on their websites, and Spot follows that trend. It has an informational blog with articles on pet health, safety and training, an online FAQ and quote tool.

Spot has an app for Android and iOS devices. You can use the app to submit claims or to contact a veterinarian through the 24/7 helpline.

Unlike some other insurers, Spot doesn’t have an online chat feature, and its customer service department is only available during certain business hours during the week; no customer support is available on the weekends.

Availability

Spot’s plans are available in all 50 states and the District of Columbia.

Contact Information

Customer support is available by phone or email. To reach customer service, call 1-866-310-3968 or email [email protected].

Customer service is only available during the following times:

  • Monday through Friday: 8:00 a.m. until 8:00 p.m. EST

User Experience

Spot allows policyholders to use their online accounts or the mobile app to submit claims, make payments or add pets to your policy. You can submit claims through the app or Spot’s website.

Coverage Limitations

Spot only insures pets that are eight weeks or older. There is no upper age limit.

Spot Customer Satisfaction

In general, Spot pet insurance reviews from its customers are positive. Policyholders frequently cite the company’s responsiveness to inquiries, quick and easy enrollment and quick processing time. On TrustPilot, Spot’s TrustScore is 4.3 out of 5 based on over 500 reviews, which is “excellent” according to TrustPilot’s scale.

Spot is accredited by the Better Business Bureau, and has an 4.5 out of 5 rating based on 16 customer reviews — better than average.


Spot FAQ

What is Spot's connection with Cesar Millan?

In 2019, Spot announced a new partnership with celebrity dog behaviorist Cesar Millan. Millan joined the company as chairman, and he promotes the company to pet owners looking for insurance coverage.

Does Spot cover veterinary exams?

Under your accident and illness policy, Spot will reimburse you for veterinary exams that diagnose or treat covered conditions once you've reached your annual deductible. Wellness exams are not covered unless you have an option wellness plan.

Does Spot limit what veterinarians I can visit?

No, Spot doesn't limit you to certain veterinarians. You can go to any licensed veterinarian or veterinary specialist in the U.S.

How We Evaluated Spot Pet Insurance

To review Spot pet insurance, we looked at the following factors:

  • Typical premiums
  • Plan options
  • Reimbursement amounts
  • Annual and lifetime caps
  • Policy exclusions and restrictions
  • Wellness benefits
  • Customer support
  • Customer reviews
  • Third-party ratings

Summary of Money’s Spot Pet Insurance Review

Although Spot’s pet insurance plans may be more expensive than some competitors, the company is still an excellent option, particularly if you’re looking for a policy with unlimited annual benefits. It has a strong reputation for customer service and financial stability, has no upper age limit and it offers multiple deductibles and plans so you can customize your policy to your needs.

It’s always a good idea to shop around and get quotes from multiple insurers so you can find the best plan for your pet. Before enrolling your dog or cat, be sure to read the policy documents carefully so that you fully understand its coverages and exclusions.

 


Author: Author

Continue Reading

Trending